. They will allow you to access your funds subject to a 3-5 day notice period and withdrawals attract a charge of between 1-1.5%. CIC Money Market Fund. The process of withdrawing money from CIC Money Market Fund is easy. CIC INSURANCE MONEY MARKET FUND FACTS. As an example, if the offer price for each unit is Kshs 10, an investment of Kshs 250,000 will buy 25,000 units. Start using your new account. Coming fifth, Sanlam Money market Fund has a daily yield of 8.87 percent and an effective annual yield of 9.28 percent. The Basic Functions of a Money Market. Description The CIC Money Market fund is a low risk fund which invests in diversified near cash, interest bearing instruments in the Kenyan market. It is a safe and low-risk investment option ideal when you are planning to invest for less than 1 year. . However, you should note that the interest rate (yield) varies day to day depending on market performance. Dial *828#. These include; Treasury bills, high quality corporate debt, fixed and call . The Sanlam Money Market Fund is suitable for customers who wish to invest their money over a short period (1-12 months) through regular or once-off savings. The Money Market Fund returned a gross yield of 0.9% in September 2022 and 11.3% over twelve months. Best performing Balanced fund. The fund is ideal for investors looking to preserve their capital, to earn daily interest on their low risk investment, to invest for a period of less than 1 year and those looking for a safe place to park their funds for future . CIC Money Market Fund In 2012 the group won The Annual Insurance Claims Settlement Award for consistently paying claims on time and was also recently listed at the Nairobi Securities Exchange (NSE). Deposit via Absa. This fund has a low risk profile and is ideal during times of stock turbulence. Hello wazuans. View Fact Sheet Money Market Q3.pdf from BBA HBC 2115 I at Dedan Kimathi University of Technology. The recommended investment term is 4-7 years; regardless an investor can withdraw their investment at any time at the prevailing prices. The high-interest rates have encouraged investment in the . Affordable and easy to buy. It is a low-risk investment ideal for new and beginner investors. Conditions. To withdraw money from your account 24 hours to 2 days waiting period; Very competitive annual interest rates for your investment; . However, for those with other banks and want to avoid Bank and M-Pesa charges, here is a way to deposit money to CIC Money Market Fund for free! Bank payments are done either through electronic funds transfer (EFT) or real time gross settlement (RTGS) RTGS payments are for sums of one million shillings and above. Your money will reflect in your account within 2 to 4 working days. CIC Money Market Fund; The CIC Money Market fund is a low risk fund which invests in diversified near cash holdings, fixed deposits and high yielding. Also available via USSD *778 . CIC Money Market Fund. Main Menu; . Cytonn Money Market Fund. CMMF (USD) invests in high-quality interest-bearing investments, fixed deposits, and near cash holdings in the Kenyan market. The following are advantages that come with investing in the UAP Old Mutual money market fund: Liquidity. Money Market Fund have higher expenses in terms of the various fees applied. CIC Money Market Fund. The fund is Regulated by The Capital Market Authority (CMA) It offers Competitive Returns; Interest earned is compounded at the end of every month. Top-ups are possible through Mpesa or bank transfer at any given time. Higher expenses are incurred. Then, enter account number 01122190806600. March 20, 2016. For example, in case of an emergency you can withdraw and have the funds in your bank within a minimum of 3 working days. Find the best money market account for you. Tribute Money Market. CIC Money Market Fund. Britam Money Market Fund. The Fund may be suitable for: The core part of a cash and cash equivalents portion of a diversified investment portfolio. CIC has a team of investment managers who are competent to deliver the best advantage for investors. Key benefits of the CIC money market fund. A money market account is a good savings option if you want to start building an emergency cash fund. If a company charges higher fees, then you are more likely to have low returns and the . In the first Quarter of 2022, the fund's percentage yield was 8.72%. These accounts are also easily accessible for young adults since most banks and credit unions offer them. Account Number: 110-238-8815. It is a conservative investment fund under CIC Asset Management. Equity Bank Kenya introduced mutual funds in 2015 through its investment arm (Equity Investment Bank). . CIC Money Market Fund; CIC is the largest money market fund manager in Kenya with a market share of 41.4% in H1 2019 as reported by a report by Cytonn Investments https: . However, there are strict restrictions on the types of investments that money market funds can hold compared to other mutual funds. CIC Money Market Fund invests in assets like near-cash and interest investments like fixed deposits, government paper and bear cash holdings. CIC Home | CIC Kenya Home | CIC Kenya | CIC Insurance Kenya CIC MMF Features. Over the last 12 months, the average return has been . These investments mainly include interest-bearing assets like fixed deposits, treasury bills, short- . Products. 2. Their market fund, just like many others is focused on investments in high quality interest bearing investments, fixed deposits, and near cash . . When you were applying to join money market fund, you gave the company your email address and bank account details, you were also issued with member numbers. Cytonn Money Market Fund - 10.6%. Both options allow you to view your statement, withdraw funds, top-up investment amounts or switch to a different fund. Term deposit. Sanlam Money Market Fund. View Terms and Rates. The Account Name: Zimele Unit Trust Money Market Fund. Bond yields in Kenya edged up by an average of 25 basis points across the yield curve in Q3 2022. Those who want quick and easy access to their money and/or may need their money in less than one year. The period of receiving the money in your account depends on the amount you want to withdraw. charge any withdrawal fees. The chief purpose of the money market is liquidity. Ready access to information. 1000. Read also: The CIC Group Money Market Fund(Who Should Invest) Benefits of The UAP Old Mutual Money Market Fund. Usually, you will get your funds in less than 24 hours if the amount is less than Ksh 10,000. As an investor, you have the rights to withdraw your funds on short notice at any given period. 1. Sanlam Pesa+Money Market Fund. Withdrawals are timely with a choice of M-Pesa or bank. Step 1 : Dial *165# on MTN Registered line. CIC MMF is one of the largest money market funds in Kenya in terms of the share of the unit trust market. GenCapHela Imara Money Market Fund - 10.2%. Money Market Fund - BRITMO. These fund aims to obtain a high level of current income than most bank deposits while protecting investor's capital. ABSA BANK KENYA LIMITED. In Q2 2020 results for money market funds, they made up 89.6% of the total Unit Trust Fund market according to assets under management. You can withdraw your funds on short notice with no penalty fees and there is the flexibility to switch or transfer funds to other products within the CIC Asset management. The list continues to grow as more investors realize the benefits of investing in such a fund. A Money Market Fund is considered the least risky fund, of all unit trusts, because you never lose your invested capital. . Money market funds are debt funds that invest in money market securities with a maximum maturity of one year. Dollar Fund Buy || 1.00 Sell || 1.00 Date 28/10/2022 Wealth Fund Buy || 1.00 Sell || 1.00 Date 28/10/2022 Balanced Fund Buy || 7.49 Sell || 7.66 Date 28/10/2022 . Account Number: 03077-500-6757. Next Topic: S.Mutaga III #1 Posted : Monday, January 20, 2014 8:40:43 PM Rank: Member Joined: 3/26/2012 Posts: 830. *Interest rate is variable and subject to change. Equity Bank unit trust. . The performance of the fund is supported by a greater allocation to high yielding deposit holdings. Cash funneled into these markets becomes part of swaps between banks and the government or banks and companies. The steps will vary with the fund manager you invest with but for the most part . The fund pays you back without any service charge. You can withdraw funds within short notice and you will not be charged penalty fees. Money market solutions. Flexibility: You can switch or transfer funds to another fund that you may have with . The minimum top-up or subsequent deposit amount is Ksh. Read also: Zimele Money Market Fund (What You Need To Know) Benefits of The CIC Money Market Fund 1.Professional investment management. If you want to open a money market . You will receive your funds within 3 days or less! These instruments include treasury bonds & bills, corporate bonds & commercial papers, cash & call deposits, and term deposits that have a . CIC Money Market Fund invests in near cash, fixed deposits, near cash holding and interest-bearing instruments in Kenya. Professionally managed. A money market fund's weighted average maturity is typically 60 days or less. It enjoys over 41% of the market share. Computations of Yield for Sanlam Money Market Fund in the month of September. The effective annual yield in 2021 was 8.86%. Step 5 : Enter Payment Reference - Name e.g. 1-12 months. CIC Money Market Fund invests in highly liquid near cash interest bearing instruments. You can withdrawal via the online portal or by sending an email to the address I will share when we create your account. WITH CYTONN MONEY MARKET FUND. Fill out and submit an online application. 2. Fees could reduce earnings on account. Money Market Funds (MMFs) in the recent past have gained popularity in Kenya, with one of the main reasons is the higher returns from money . Sanlam Money Market Fund. Investment horizon. Government securities - These are instruments through which . 8. Go to the M-PESA menu and select Lipa na M-Pesa. Money market funds usually have durations less than one year. Benefits. What you will do is, write an email to CIC indicating that you want to withdraw a . Read also: SACCO vs. Money Market Fund. CIC Money Market Fund Interest rates. Check account balance and statements online at the website after login. Efficiency: Quick and easy access to funds. View SAVING IN A MONEYMARKET FUND.docx from ECON MACROECONO at Texas A&M University, Kingsville. CIC money market fund withdrawal is super easy and fast! Client Name and Client Investment Number Step 6 : Enter Amount Add 460/= to the amount you are sending . WITHDRAWAL OF FUNDS FOR OUR INVESTORS What is the investment structure? The value of units moves in accordance with the performance of the unit trust .